African Business News

Stay updated with the latest African business news, including market trends, economic updates, and insights into industries across the continent.

Hexing Nigeria Launches Innovative Solutions for Affordable Renewable Energy

Hexing Nigeria Launches Innovative Solutions for Affordable Renewable Energy

By Ifunanya / July 13, 2024

Hexing Nigeria Aims to Bring Affordable and Renewable Electricity to Nigerians As the Band A electricity tariff triples, Hexing Nigeria […]

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TCN Commissions 330kV Transformer in Damaturu, Boosts Power Supply to

TCN Commissions 330kV Transformer in Damaturu, Boosts Power Supply to 166MW

By Ifunanya / July 13, 2024

Nigeria’s Transmission Company Commits to Power Infrastructure Upgrade In a significant development, the Transmission Company of Nigeria (TCN) has commissioned […]

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Jumia Empowers Local Entrepreneurs with Digital Platforms to Drive Africa's

Jumia Empowers Local Entrepreneurs with Digital Platforms to Drive Africa’s Economic Growth

By Ifunanya / July 12, 2024

Jumia Emphasizes the Importance of Digital Platforms in Boosting Entrepreneurship Development In a bold move to empower local entrepreneurs across […]

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Cement Price hike Nigerian Senate mulls probe

Nigerian Senators Reject Bill to Reduce CBN’s Regulatory Power on FX Market

By Ifunanya / July 12, 2024

Nigerian Senators Reject Bill Aimed at Reducing Central Bank’s Regulatory Powers In a recent development, Nigerian senators have rejected a […]

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Dangote investors gain N514bn after refinery takeoff

Nigeria Crude Oil Producers Commit to Sustainable Supply for Local Refineries Under Market-Determined Pricing System

By Ifunanya / July 12, 2024

Nigeria Commits to Sustainable Crude Oil Supply for Local Refineries The Federal Government of Nigeria and crude oil producers in […]

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Senate Rejects Bill to Regulate Foreign Exchange Market in Nigeria

Senate Rejects Bill to Regulate Foreign Exchange Market in Nigeria

By Ifunanya / July 12, 2024

Nigerian Senate Rejects Bill Seeking to Review Foreign Exchange Market Regulations In a move that has sent shockwaves through the […]

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Naira Appreciates Against Dollar at Official and Parallel Markets

Naira Appreciates Against Dollar at Official and Parallel Markets

By Ifunanya / July 12, 2024

Naira Rebounds Against Dollar in Historic First In a surprising turn of events, the Nigerian naira has experienced a significant […]

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United Capital backs CBN on stakeholder collaborations

CBN’s FX Directive Eases Oil Industry Pushback as Oil Firms Settle Naira Obligations

By Ifunanya / July 11, 2024

Central Bank of Nigeria’s New Directive Sparks Pushback from Oil and Gas Industry The Governor of the Central Bank of […]

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Nigeria’s NUPRC Orders Crude Refiners to Provide Monthly Price Quotes Amid Supply Shortages

By Ifunanya / July 11, 2024

Nigeria’s Oil Regulator Orders Refiners to Provide Monthly Price Quotes Amid Crude Supply Shortage In a move to sanitize the […]

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USAID and Nigeria Sign Historic $310M Power Sector Development Agreement

By Ifunanya / July 11, 2024

USAID and Nigerian Federal Ministry of Power Sign Major Deal to Tackle Electricity Challenges The United States Agency for International […]

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CAC to delist 91843 companies over failure to comply with

CBN Gives 4,173 BDCs 3-Month Ultimatum to Change Names After License Revocation

By Ifunanya / July 11, 2024

Nigeria’s Central Bank Orders 4,173 Bureau De Change Companies to Change Names or Face Consequences In a recent move, the […]

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CAC Warns 4,173 BDCs of Certificate Cancellation Over Regulatory Noncompliance

CAC Warns 4,173 BDCs of Certificate Cancellation Over Regulatory Noncompliance

By Ifunanya / July 11, 2024

Nigeria’s Central Bank and Corporate Affairs Commission Take Action Against Non-Compliant Bureau De Change Operators In a move to maintain […]

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ABCON Urges CBN to Ban Non Oil Exporters from Official FX

Nigeria’s External Reserves Reach One-Year High Under President Tinubu

By Ifunanya / July 11, 2024

Nigeria’s Economy Sees Surge in External Reserves, But Forex Crisis Persists Date: July 2024 Despite a one-year high of $35.05 […]

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kenyas president william ruto attends a plenary session during the summit on peace in ukraine in obburgen switzerland sunday june 16 2024

Kenya Faces Growing Debt and Economic Challenges After Protests Derail Finance Bill

By Ifunanya / July 10, 2024

The ballooning debt in East Africa’s economic hub of Kenya is expected to grow even more after deadly protests forced […]

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PENGASSAN

PENGASSAN President Blames Fuel Scarcity on Bad Roads and Ineffective Railway System

By Ifunanya / July 9, 2024

President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Festus Osifo, has attributed the current scarcity […]

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NGX records bearish trading as ASI declines by 033 per

Nigerian Exchange Group Suspends Trading for Unity Bank, NPF Microfinance Bank, and Six Other Companies

By Ifunanya / July 9, 2024

The Nigerian Exchange Group (NGX) has suspended trading of shares for Unity Bank, Nigerian Police Force Microfinance Bank, and six […]

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a cargo ship sails through the panama canal in panama city thursday june 13 2024

Court Decision May Greenlight New Reservoir for Panama Canal Amid Drought

By Ifunanya / July 9, 2024

Waterway managers announced on Monday that a recent court decision might pave the way for constructing a new reservoir to […]

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fuel scarcity 2

Fuel Scarcity Worsens in Abuja and Surrounding States, Transport Fares Soar

By Ifunanya / July 9, 2024

Residents of Abuja, Nasarawa, and other surrounding states are grappling with long fuel queues at filling stations, despite assurances from […]

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maize

Nigeria’s Federal Government Suspends Import Duties on Key Food Items for 150 Days

By Ifunanya / July 8, 2024

In a significant policy move, Nigeria’s Federal Government announced on Monday the suspension of duties, tariffs, and taxes on the […]

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samao

Nigerian Government Denies Signing EU Agreement for $150 Million Loan

By Ifunanya / July 7, 2024

FCT, Abuja — The Nigerian government has refuted claims of signing an agreement with the European Union (EU) to secure […]

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